Core Insights - Flowserve reported revenue of $1.13 billion for the quarter ended September 2024, reflecting a year-over-year increase of 3.5% and a slight surprise of +0.52% over the Zacks Consensus Estimate [1] - The earnings per share (EPS) for the quarter was $0.62, which is an increase from $0.50 in the same quarter last year, but fell short of the consensus estimate of $0.67, resulting in an EPS surprise of -7.46% [1] Revenue and Earnings Performance - Flowserve's sales in the FPD segment were $781.37 million, slightly below the average estimate of $785.87 million, marking a year-over-year increase of 2% [3] - The FCD segment reported sales of $351.72 million, exceeding the average estimate of $340 million, with a year-over-year growth of 6.4% [3] - Intersegment sales were reported at -$2.17 million, slightly worse than the average estimate of -$2.10 million [3] Operating Income Metrics - Adjusted Operating Income for the FCD segment was $49.40 million, below the average estimate of $51.47 million [3] - The segment operating income for Eliminations and All Other was -$52.80 million, worse than the average estimate of -$40.18 million [3] - Adjusted Operating Income for the FPD segment was $128.10 million, surpassing the average estimate of $117.74 million [3] Stock Performance - Flowserve's shares have returned +2.5% over the past month, compared to a +2% change in the Zacks S&P 500 composite [4] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [4]

Core Viewpoint - Flowserve (FLS) reported quarterly earnings of $0.62 per share, missing the Zacks Consensus Estimate of $0.67 per share, but showing an increase from $0.50 per share a year ago [1][2] Financial Performance - The earnings surprise for the quarter was -7.46%, while the previous quarter saw a positive surprise of 15.87% with actual earnings of $0.73 per share against an expectation of $0.63 [2] - Flowserve's revenues for the quarter ended September 2024 were $1.13 billion, exceeding the Zacks Consensus Estimate by 0.52%, and up from $1.09 billion year-over-year [3] - The company has surpassed consensus revenue estimates four times over the last four quarters [3] Stock Performance - Flowserve shares have increased approximately 27.8% since the beginning of the year, outperforming the S&P 500's gain of 21.8% [4] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.79 on revenues of $1.22 billion, and for the current fiscal year, it is $2.78 on revenues of $4.6 billion [8] - The estimate revisions trend for Flowserve is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [7] Industry Context - The Manufacturing - General Industrial industry, to which Flowserve belongs, is currently ranked in the bottom 45% of over 250 Zacks industries, which may impact stock performance [9]

FOR IMMEDIATE RELEASE Flowserve Corporation Reports Third Quarter 2024 Results; Reaffirms 2024 Adjusted EPS Guidance DALLAS, October 28, 2024 – Flowserve Corporation (NYSE: FLS) ("Flowserve" or the "Company"), a leading provider of flow control products and services for the global infrastructure markets, today announced its financial results for the third quarter ended September 30, 2024. Third Quarter 2024 Highlights (all comparisons to the 2023 third quarter, unless otherwise noted) • Bookings of $1.20 bi ...

The upcoming report from Flowserve (FLS) is expected to reveal quarterly earnings of $0.67 per share, indicating an increase of 34% compared to the year-ago period. Analysts forecast revenues of $1.14 billion, representing an increase of 3.8% year over year.The consensus EPS estimate for the quarter has been revised 1.7% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Before a com ...

Group 1: Momentum Investing Overview - Momentum investing involves following a stock's recent trend, with the aim of buying high and selling higher, capitalizing on established price movements [1] - The Zacks Momentum Style Score helps identify effective metrics for assessing momentum in stocks, addressing the challenges of defining momentum [1] Group 2: Flowserve (FLS) Analysis - Flowserve currently holds a Momentum Style Score of A and a Zacks Rank of 2 (Buy), indicating strong potential for outperformance [2] - Stocks rated Zacks Rank 1 (Strong Buy) and 2 (Buy) with Style Scores of A or B have historically outperformed the market over the following month [2] Group 3: Price Performance Metrics - Flowserve shares have increased by 4.57% over the past week, outperforming the Zacks Manufacturing - General Industrial industry, which rose by 0.84% [3] - Over the past month, Flowserve's shares rose by 13.48%, significantly higher than the industry's 1.05% performance [3] - In the last quarter, Flowserve shares gained 9.6%, and over the past year, they increased by 47.36%, while the S&P 500 rose by 4.9% and 35.3%, respectively [4] Group 4: Trading Volume and Earnings Outlook - Flowserve's average 20-day trading volume is 1,538,455 shares, indicating a bullish sign with rising stock prices on above-average volume [4] - Over the past two months, two earnings estimates for Flowserve have increased, raising the consensus estimate from $2.74 to $2.77 [5] - For the next fiscal year, three earnings estimates have moved upwards, with no downward revisions, suggesting a positive outlook [5]

Flowserve Corporation (FLS) recently completed its previously announced acquisition of MOGAS Industries for $305 million, which includes the potential earnout. The company funded the transaction through its cash balance. Based in Houston, TX, MOGAS is engaged in providing mission-critical severe service valves and related aftermarket services. The company's products are sold to several end markets, including power, mining and process industries. It has an extensive geographic presence with sales and service ...

The Zacks Manufacturing – General Industrial industry is poised for growth on the back of strength across prominent end markets and a surge in the e-commerce business. Efforts to digitalize business operations have been enhancing industry players' competitiveness. Investments in product development and focus on expanding operations through strategic acquisitions are expected to boost the industry's growth. However, persistent softness in the manufacturing sector has marred the outlook of the industry. Parke ...

Technology companies and the broader economy are transitioning away from fossil fuels as energy demand skyrockets on the back of artificial intelligence. Microsoft and other tech giants are making deals with nuclear energy companies and other alternative energy firms to power their AI-focused expansion efforts. See the Zacks Earnings Calendar to stay ahead of market-making news. Nuclear energy stocks such as Vistra, Constellation Energy, and others have skyrocketed over the last few years and the past month ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Even though momentum is a popular stock cha ...

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